Roark sells Fastsigns to Levine Leichtman

Atlanta-based Roark Capital will exit its 2003 investment in Fastsigns for an undisclosed sum

Atlanta-based Roark Capital is selling Fastsigns to Levine Leichtman Capital Partners for an undisclosed sum. Roark first invested in Fastsigns in 2003, and put the company up for auction earlier this summer.

Neither Roark nor Levine were available to comment on the transaction at press time.

Fastsigns is a franchise sign and graphic design company, known for making custom signage in a hurry. The company now has 550 franchise locations worldwide, and is expanding its visual communications business.

Fastsigns is the fourth investment from Levine Leichtman Capital Partners V, which closed in March of this year on $1.65 billion, exceeding its target of $1.5 billion according to Private Equity International’s research and analytics division.

Known investors in Fund V include the Florida State Board of Administration which committed $200 million to the fund in 2013.

Roark is currently in the market for its fourth fund which is targeting $1.5 billion. The firm closed its third fund on its hard-cap of $1.5 billion in October 2012. That fund focuses on consumer sector businesses with franchise opportunities.